Billionaire Ronald Perelman Has Already Sold Over $ 100 Million In Artworks In His Quest For A “Easier Life” + More Stories
Art Industry News is a daily digest of the most important developments from the art world and the art market. Here is what you need to know on Monday, September 21.
NEED TO READ
Royal Academy faces choice to sell jobs to Michelangelo or Slash – The artists who are members of the Royal Academy in London are urging the institution to sell its famous sculpture by Michelangelo, the Taddei Tondo, before considering extreme layoffs. The institution faced financial difficulties even before 2020 and now plans to lay off nearly half of its staff to recover costs. Meanwhile, the marble sculpture of the Madonna and Child could be worth up to £ 100million ($ 129million). While several artists believe it is morally wrong to protect a single work of art from staff, the RA says it has no plans to sell the works in its collection. The suggestion will be discussed at a virtual membership meeting this week. (Guardian)
The Courtauld acquires a rare manuscript from Gauguin – The Courtauld Gallery in London acquired an unpublished manuscript illustrated by Paul Gauguin in Polynesia a few months before his death. The rare document is being given in the UK instead of £ 6.5million in inheritance tax. Described as “partly memory and partly manifest”, Before and after includes revealing anecdotes about the contemporaries of Gauguin, Cézanne, Degas and Van Gogh. The artist also details the nine weeks he spent working with Van Gogh in Arles, which ended when the Dutch painter mutilated his ear. The volume will be presented next spring, when the gallery reopens to the public after renovations. (Telegraph, The arts journal)
More details on Ronald Perelman’s big sale – Billionaire Revlon owner Ronald Perelman is parting ways with many of his treasures, multi-million dollar works of art to a private jet. Once billed as America’s richest man, the mogul has seen his net worth drop from $ 19 billion to $ 4.2 billion in two years. Perelman said he wanted to “seek out new investment opportunities”, enjoy “a simpler life” with more family time, and “give others the chance to enjoy some of the beautiful things that I have. acquired “. Now we have more details on the beautiful things coming to market (mainly via a private sale through Sotheby’s): a $ 70 million Jasper Johns titled 0 to 9, a $ 50 million Gerhard Richter, Zwei Kerzen (Two Candles), and a $ 20 million Cy Twombly. These last two have already sold, as well as a $ 28.7 million Miró and a $ 8.3 million Matisse landed at a Sotheby’s auction in July. (Bloomberg)
See inside the new galleries offered by LACMA – After a long wait (and a lot of speculation and controversy), the final plans for the interior of the new Los Angeles County Museum of Art designed by Peter Zumthor have been revealed. The second floor will house two dozen galleries, comprising a total of 110,000 square feet of exhibition space, while the ground floor will house the education department, three restaurants and a 300-seat auditorium. The aim of the new design is to create a non-hierarchical approach to display: “If you only have women in the last 10 minutes of a collection, you need a new way of organizing the museum. Said Michael Govan, director of LACMA. (Los Angeles Times)
Bay Area Galleries Unite to Launch Common Online Platform – Inspired by the collective effort online Gallery Platform LA, Bay Area Galleries have created a new joint online viewing room called 8-bridges. The platform will feature monthly rotating exhibitions from dealers such as Altman Siegel, Fraenkel Gallery and Silverman Gallery starting October 1. (ARTnews)
ARRIVALS AND AISLES
Christian Liaigre, minimalist interior designer, dies at 77 – The French interior and furniture designer, whose influential clients included Karl Lagerfeld, Rupert Murdoch, Larry Gagosian and the Mercer Hotel in SoHo, has died at the age of 77. The cause of death is unknown. (New York Times)
Romanian police recover rare books stolen from UK – First edition books dating from the 16th and 17th centuries, written by Galileo Galilei and Isaac Newton, were recovered by the police in Romania. The pounds, which were stolen three years ago in the UK, are worth more than £ 2.5million ($ 3.2million). (FAZ)
FOR THE LOVE OF ART
A clock that used to show the time now shows the remaining time – Artists Gan Golan and Andrew Boyd have reprogrammed a clock facing Union Square in Manhattan to count to maturity before climate change is irreversible (by keeping warming below 1.5 degrees Celsius or 34, 7 degrees Fahrenheit) at the current rate of carbon emissions. The public artwork previously sold time in its own way, counting the hours, minutes, and seconds up to and from midnight. (NYT)
Vienna estate hangs sign to draw attention to the fire at Moira refugee camp – The prestigious Austrian institution has hung a banner on its facade to draw attention to Moria, a refugee camp on the Greek island of Lesvos which is home to some 13,000 people. The camp caught fire on September 9 in what is called a humanitarian disaster, leaving most homeless. “As artists and citizens, we feel the need to take a clear stand on the issue and express our commitment to treat refugees with humanity and compassion,” the Succession said in a statement. The organization is appealing to the Austrian government and the EU to offer help. (Instagram)
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